That House Hack Guy!

[Seth Williams]

Hello all,

As the title says, I'm looking to invest in a 3 flat and house hack.  Note that the proceeds will come from the sale of my current primary residence (condo).

With that said, can anybody speak to which areas you would be looking at?  I'm fairly comfortable anywhere in Chicago, excluding a few areas on the West Side.  The areas I keep hearing that could be good for this include Avondale, Albany Park, Belmont Craigin, Hermosa.  I kind of like Back of the Yards, but not sure about the trajectory given lack of public transportation.  Additionally, what's going on in Little Village?  Seems like a solid spot and gets a bad wrap.

What're ya'll thoughts? 

[Jake Fugman]

@Seth Williams Hey Seth - That depends a lot on your budget and financing plans. If you need to conform to FHA loan limits/SST you may be limited so areas that have inventory in your range. All the locations you mentioned do have solid inventory of 2-4 units around $150-250k/unit so you likely have a solid start. I would consider a couple of other areas closer to the lake as contenders as well - E. Woodlawn or Rogers Park also have similar priced inventory.

Im a fan of Marshall Square (east Little Village) in general.  Close to pink line and rents are going up quickly in the area. Up to $1300/mo for updated 2 bed VS only 3-4 yrs ago about $900/mo for similar.   If you stay east of California and north of 23rd you will find a few blocks with new construction - always a good sign. 

Good luck!